Con Edison Invests $1.5 Billion for Summer '09

Consolidated Edison Co. of New York, Inc. is investing approximately $1.5 billion this year to upgrade and reinforce its electric delivery system, including upgrading multiple transformers, and replacing and installing approximately 2,000 miles of electrical cable -- more than enough cable to extend from New York City to Denver.

The $1.5 billion in overall system investments this year includes:

$905 million on the distribution system for cables, transformers and network protectors;

$222 million on transmission upgrades and system reliability; and

$347 million on new substation installations and related equipment.

Con Edison expects to spend more than $7 billion over the next five years on its electric delivery system to maintain reliability and support economic growth projected in its service area.

"Despite the economic downturn, we continue to invest in our electric delivery system to maintain reliable service for the 9 million people we serve. Our crews have been working through the winter months, getting our substations, transmission lines and local distribution cables ready to handle the needs of our customers when the weather turns hot and air conditioners start running," said Louis L. Rana, president and chief operating officer of Con Edison. "We continue to encourage our customers to conserve energy, and to learn how to make their homes and businesses as energy efficient as possible."

Additional electric delivery system improvements and upgrades for this summer include the installation of approximately 2,000 miles of primary and secondary cable; the installation of approximately 3,000 transformers; and the reinforcement or addition of 248 feeders, or circuits that bring power from substations to neighborhoods.

This summer Con Edison is forecasting a peak electricity demand of 13,750 megawatts in its service area, including a projected peak of 11,945 megawatts for New York City and 1,805 megawatts for Westchester County. The record peak -- 13,141 megawatts -- was set at 5 p.m. on Aug. 2, 2006.

One new area substation is online this year, providing over 100 megawatts of electricity to midtown Manhattan and additional capacity for future load growth. One megawatt can power approximately 1,000 homes.